Lion One Metals — Proxy Solicitation & Information Statement 2025

Nov 5, 2025

LION ONE METALS LIMITED

Notice of Annual and Special General Meeting of Shareholders

NOTICE IS HEREBY GIVEN that the annual and special general meeting (the "Meeting") of the holders (the "Shareholders") of the common shares ("Shares") in the capital of Lion One Metals Limited (hereinafter referred to as the "Company") will be held at #306 – 267 West Esplanade, North Vancouver, British Columbia on Friday, December 12, 2025 at 1:00 p.m. (Vancouver time).

The Meeting will be held to consider the following:

1. To receive and consider the consolidated financial statements for the year ended June 30, 2025 and the report of the auditors thereon;
2. To appoint Davidson & Company LLP, Chartered Professional Accountants, as Auditors of the Company for the ensuing year;
3. To authorize the directors of the Company to fix the auditors remuneration for the ensuing year;
4. To fix the number of directors of the Company at four (4) for the ensuing year;
5. To elect directors as more particularly described in the accompanying management information circular (the "Information Circular") dated October 31, 2025;
6. To consider and, if deemed appropriate, to pass, with or without variation, an ordinary resolution re-approving the Company's Omnibus Equity Incentive Compensation Plan, as more particularly described in the Information Circular; and
7. To transact such other business as may be properly transacted at such meeting or at any adjournment thereof.

The Board of Directors of the Company has, by resolution, fixed the close of business on October 23, 2025 as the record date of the Meeting, being the date for determination of the registered holders of Shares entitled to receive notice of, and to vote at, the meeting and any adjournment thereof.

Shareholders who are unable to attend the Meeting in person are requested to read the notes on the reverse of the form of proxy and complete and return the form of proxy to the registrar and transfer agent for the Shares, Computershare Investor Services Inc., by 1:00 p.m. (Vancouver time) on Wednesday, December 10, 2025, or not less than 48 hours prior to commencement of any adjournment of the meeting.

If you are a non-registered shareholder and receive a Voting Instruction Form ("VIF") with the Information Circular, please complete and return the VIF in accordance with the instructions provided. If you do not complete and return the VIF in accordance with such instructions, you may lose your right to instruct the registered holder of your Shares on how to vote at the Meeting on your behalf.

Dated at North Vancouver, British Columbia, on October 31, 2025.

By Order of the Board,

"Walter Berukoff"

Walter Berukoff
President and Chairman of the Board